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North Carolina Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 2023

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $162,000,000 for a ticket purchased in North Carolina, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

North Carolina

Drawing Date:Fri, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 4.5%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$109,725$1,468,237
2$2,560,249$905,480$115,211$1,539,558
3$2,688,262$952,845$120,972$1,614,445
4$2,822,675$1,002,577$127,020$1,693,077
5$2,963,808$1,054,797$133,371$1,775,640
6$3,111,999$1,109,627$140,040$1,862,332
7$3,267,599$1,167,199$147,042$1,953,358
8$3,430,979$1,227,650$154,394$2,048,935
9$3,602,528$1,291,123$162,114$2,149,291
10$3,782,654$1,357,770$170,219$2,254,665
11$3,971,787$1,427,749$178,730$2,365,307
12$4,170,376$1,501,227$187,667$2,481,482
13$4,378,895$1,578,379$197,050$2,603,466
14$4,597,840$1,659,388$206,903$2,731,548
15$4,827,732$1,744,448$217,248$2,866,035
16$5,069,118$1,833,761$228,110$3,007,246
17$5,322,574$1,927,540$239,516$3,155,518
18$5,588,703$2,026,008$251,492$3,311,203
19$5,868,138$2,129,399$264,066$3,474,673
20$6,161,545$2,237,959$277,270$3,646,316
21$6,469,622$2,351,948$291,133$3,826,541
22$6,793,103$2,471,636$305,690$4,015,778
23$7,132,758$2,597,308$320,974$4,214,476
24$7,489,396$2,729,264$337,023$4,423,109
25$7,863,866$2,867,818$353,874$4,642,174
26$8,257,059$3,013,300$371,568$4,872,192
27$8,669,912$3,166,055$390,146$5,113,711
28$9,103,408$3,326,449$409,653$5,367,306
29$9,558,578$3,494,862$430,136$5,633,580
30$10,036,507$3,671,695$451,643$5,913,169
Total$162,000,000$58,685,632$7,290,000$96,024,368

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.